CNBC Video: European Earnings
European earnings revealed a mixed business environment Tuesday due to fluctuations in exchange rates, rising commodity prices and the effect of uncertainty about the recent credit crunch.
Shares of Dassault Systemes slumped 6.6 percent after the French software-maker lowered its full-year forecast. Bernard Charles, CEO of Dassault Systemes, told CNBC's Geoff Cutmore that "continuous headwinds on the exchange rate," were partly to blame.
Meanwhile, Neste Oil'sthird-quarter operating profit missed analysts' forecasts. Jarmo Honkamaa, deputy CEO of Neste Oil, also said on "Squawk Box Europe" that the current high price of crude may start to have a negative impact on oil demand.
In Austria, strong performance in its Romanian operations helped Erste Bank to meet its expectations of 34 percent rise in third-quarter profit. Andreas Treichl, CEO of Erste Bank, talks about the results on "Squawk Box Europe."
Shares in BASF fell about 2 percent on possible profit taking as the German chemical company raised its full-year guidance, due to strong demand from Asia.
"We had a rock solid third quarter," Dr. Kurt Bock, CFO of BASF, told CNBC's Geoff Cutmore, "so we are very confident for 2007."
Smoking bans across Europe haven't dented sales at Imperial Tobacco too significantly, Gareth Davis, CEO of Imperial Tobacco, told CNBC's Anna Martin. The UK-listed cigarette company met the consensusearnings forecast Tuesday. But shares in the company declined due to a delay to its takeover of rival Altadis.